Tilray (NASDAQ:TLRY) Trading Down 1.1% - Here's Why

Tilray Inc (NASDAQ:TLRY - Get Free Report) traded down 1.1% during mid-day trading on Monday . The company traded as low as $0.93 and last traded at $0.93. 26,009,440 shares were traded during trading, a decline of 41% from the average session volume of 44,451,032 shares. The stock had previously closed at $0.94.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group upped their target price on Tilray from $2.00 to $3.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $2.70.

Tilray Stock Performance

The stock has a market cap of $892.18 million, a price-to-earnings ratio of -3.17 and a beta of 2.07. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54. The stock has a fifty day simple moving average of $1.17 and a two-hundred day simple moving average of $1.47.

Tilray (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The company had revenue of $210.90 million for the quarter, compared to analyst estimates of $216.34 million. The company's revenue was up 8.7% compared to the same quarter last year. Analysts expect that Tilray Inc will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Creative Planning raised its position in shares of Tilray by 36.6% during the third quarter. Creative Planning now owns 141,921 shares of the company's stock worth $250,000 after purchasing an additional 38,054 shares during the period. Stratos Wealth Advisors LLC grew its holdings in shares of Tilray by 253.5% during the third quarter. Stratos Wealth Advisors LLC now owns 39,074 shares of the company's stock valued at $69,000 after buying an additional 28,022 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Tilray by 335.3% in the third quarter. International Assets Investment Management LLC now owns 23,639 shares of the company's stock worth $42,000 after purchasing an additional 18,208 shares during the last quarter. Capital Management Associates Inc purchased a new stake in shares of Tilray in the third quarter worth approximately $45,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Tilray by 22.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company's stock worth $70,000 after purchasing an additional 7,339 shares during the last quarter. Institutional investors and hedge funds own 9.35% of the company's stock.

About Tilray

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.